Wealth Gap Black America Bitcoin


According to Forbes, the median wealth of Black and Latino families could hit zero by 2053. Traditionally, Black Americans lag behind on the wealth scale but the adoption of cryptocurrency, in particular Bitcoin, could allow a change in that narrative through education and dollar-cost averaging.

Investing in bitcoin for African Americans has become a “what do I have to lose” scenario. There is now tons of data on the impact of wealth inequality and how it affects African Americans which is downright shocking to say the least. The Black and Brown community’s wealth gap has widened through Jim Crow segregation, redlining, mass incarceration, high unemployment and lack of financial literacy. Bitcoin is not centralized by an entity, corporation, person or country, meaning it is not controlled by a single authority or managed in one place. This lack of centrality removes the fundamental flaw of bias. Bitcoin does not care what you look like, what culture you come from, your gender or your religious background.

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